Tiptree (NASDAQ:TIPT) Sets New 52-Week High - Still a Buy?

Tiptree Inc. (NASDAQ:TIPT - Get Free Report) reached a new 52-week high during trading on Thursday . The company traded as high as $21.96 and last traded at $21.96, with a volume of 232 shares trading hands. The stock had previously closed at $19.72.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Tiptree from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, September 25th.

Tiptree Stock Up 3.5 %

The company has a fifty day moving average of $19.57 and a two-hundred day moving average of $18.04. The stock has a market capitalization of $750.88 million, a price-to-earnings ratio of 21.04 and a beta of 1.30.

Tiptree (NASDAQ:TIPT - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.53 EPS for the quarter. The firm had revenue of $546.67 million during the quarter. Tiptree had a net margin of 1.62% and a return on equity of 11.97%.

Institutional Trading of Tiptree

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in Tiptree by 1.6% during the first quarter. Vanguard Group Inc. now owns 1,154,954 shares of the financial services provider's stock worth $19,958,000 after buying an additional 17,660 shares during the period. Cove Street Capital LLC grew its holdings in shares of Tiptree by 7.1% in the 1st quarter. Cove Street Capital LLC now owns 423,767 shares of the financial services provider's stock worth $7,323,000 after acquiring an additional 28,132 shares during the period. Hillsdale Investment Management Inc. increased its stake in Tiptree by 8.5% in the 1st quarter. Hillsdale Investment Management Inc. now owns 226,577 shares of the financial services provider's stock valued at $3,915,000 after purchasing an additional 17,700 shares in the last quarter. Millennium Management LLC increased its stake in Tiptree by 58.7% in the 2nd quarter. Millennium Management LLC now owns 205,416 shares of the financial services provider's stock valued at $3,387,000 after purchasing an additional 75,943 shares in the last quarter. Finally, Steamboat Capital Partners LLC acquired a new position in Tiptree during the first quarter worth $3,427,000. 37.78% of the stock is currently owned by hedge funds and other institutional investors.

Tiptree Company Profile

Tiptree Inc, through its subsidiaries, provides specialty insurance products and related services primarily in the United States. It operates through two segments: Insurance and Mortgage. The company offers niche; commercial lines insurance products, including professional liability, general liability, contractual liability protection, property and other short-tail, and alternative risks insurance products; and personal lines insurance products, such as credit protection surrounding loan payments.